DAMMAM, 24 January 2007 — Zamil Industrial Investment Company (ZIIC) has announced that its net profits after Zakat contributions for 12 months ending Dec. 31, 2006 were SR191.7 million ($51.1 million) compared to SR106.4 million ($28.4 million), representing an increase of 80.2 percent over the same period in 2005. Khalid A. Al-Zamil, managing director, ZIIC, said in a statement that total turnover for the group was SR2.87 billion ($765.1 million), a growth of 21.1 percent compared with last year. Operating profits, on the other hand, posted an increase of 47.2 percent to SR226.5 million ($60.4 million) in 2006 from SR153.9 million ($41.0 million) in 2005.

Bank AlJazira Profits Up 126%

JEDDAH, 24 January 2007 — Bank AlJazira said its net profits rose in 2006 to SR1.97 billion registering a 126 percent increase compared to SR874 million in 2005, The profit per share rose to SR9.78 from last year’s SR7.77. On the other hand, in the last quarter the net profit fell by 48 percent to SR202 million form the previous year’s SR390 million, said Taha Abdullah Al-Quwaiz, chairman of the board of directors. However the bank’s total revenue from operations was SR2.6 billion against SR1.32 billion in 2005.

SAPTCO Profits Surge 144.4%

RIYADH, 24 January 2007 — Saudi Arabian Public Transport Co. (SAPTCO) said its net profits surged by 144.4 percent to SR307.9 million in 2006 against previous year’s SR125.9 million. On the other hand the net profit for the last quarter of 2006 came down sharply to SR19.9 million compared to SR33.5 million in 2005 registering a 40.7 percent decline. The operating income for 2006 is given at SR685.5 million compared to SR 633.7 million in 2005.

Maadinyah Reports Decline in Profits

RIYADH, 24 January 2007 — Maadinyah said its net profit fell 7.3 percent to SR18 million in 2006 from SR19.4 million in 2005 while its operating profit in 2006 was SR20.4 million against SR21.4 million in 2005. This was attributed to the fall in the price of some of the company products. The net profit of in the last quarter 2006 grew to SR7.3 million compared to SR1.2 million in the same period in 2005 registering a 508 percent leap.

Batelco Net Profits Up 4.4% Last Year

MANAMA, 24 January 2007 — Bahrain Telecommunication Company (Batelco) net profits increased 4.4 percent to BD89.3 million ($237.8 million) in 2006. Earnings per share also increased to 74 fils, up from 71 fils in 2005. (Mazen Mahdi)